FINANCIAL STATEMENT

Financial Statements

Financial Statements Financial Statements serve as a representation of an organization’s financial status and performance during a specific timeframe. Having accurate and dependable financial statements are needed for decision making and gaining accurate sense of an organization’s fiscal wellbeing. At Masood Abid Accounting, we can prepare monthly, quarterly and/or yearly financial statements to help your organization’s decision-makers have a clear sense of the organization’s financial performance.

We can tailor these statements for different stakeholders, including:

• Management and supervisors needing to asses results of specific projects and initiatives;
• Shareholders and owners – to asses the organization and managements’ performance(s);
• Government organizations – to calculate accurate taxes and fees;
• Banks and lenders – guarantee the organization meets its loan agreements;
• Suppliers – to verify the organization’s financial well-being prior to offering credit;
• Union – to establish the organization’s performance.

 

Types of Financial Statement Appointments

• A Compilation Report or a Notice to Reader

These are financial statements created from management reported figures. As these reports are created without an audit or review there is no assurance of their accuracy.

• Review Engagements

These are financial statements created from discussion and analysis of self-reported financial figures. As these statements are created from self-reported figures analysed for their plausibility, they are not fully assured in their accuracy.

• Audit Services (Issuing an Opinion)

These are financial statements created based on review of all financial transactions. As these statements are created from review of financial statements, they are more reliable in their accuracy.